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Payment to creditors is 

Accounts - Principles of Accounts
WAEC 2021

Use the following information to answer this question 

                                                                       ₦
Creditors (01/01/19)                                   223,000
Creditors (31/12/19)                                   316,000
Credit purchases                                     1,426,000
Discount received                                         64,000
Company's cheque dishonoured                  90,000

Payment to creditors is 

  • A. ₦ 1,423,000
  • B. ₦ 1,359,000
  • C. ₦ 1,333,000
  • D. ₦ 1,295,000
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Correct Answer: Option C
Explanation
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